How, where and why embedded insurance is an innovation for our industry

Digital Reinvention
Q+
31/10/2022 article
Erick Morazin The Collaboration & Partnership Lab Founder & CEO

According to Scott Stice and Bob Besio from Accenture, “Embedded insurance is currently a red-hot topic in the industry”. But why is embedded insurance seen as one of the major recent innovations in our industry, and how can merchants benefit from this additional revenue opportunity for their distribution channels?

There are many different definitions of embedded, but I think all converge to the same approach: Embedded insurance is an insurance product that can be purchased within (or in combination with) the acquisition of another product or service.

As such, we can agree distribution segments such as bancassurance, related offers (offering insurance in the digital universe of a partner) or linked propositions (a white label site in a partner’s website) cannot qualify for embedded schemes. But they can be interesting additional contributions to embedded offers.

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